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Updated almost 6 years ago,

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Dalili Edwards
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Mom's home has mortgage can we quitclaim to our LLC

Dalili Edwards
Posted

My mother and sister's are wanting to become REI's. My mother owns a property that needs some serious repairs and she currently has a mortgage on it. We are wanting to repair the property and rent it under our LLC but aren't sure if we can get financing based on the LLC's finances. We would like to refinance for the repairs and possibly use the remainder towards the purchase of other properties. Can my mother quitclaim the property to the LLC?